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Bitwage -> Bitreserve -> Gateways: Bitcoin is ready for the (savvy) Unbanked

I was playing around with Bitreserve & Coinapult today and was blown away by what's already offered. These services are just in their infancy and already can be integrated with the existing bitcoin infrastructure.
Let's say you are a low-income worker without a bank account
Why don't you have a bank account?
Yet by not having access to a bank, you must compensate by:
Let's say you have a smartphone and are savvy enough to piece together existing bitcoin services
  1. Get your wage switched from checks to bitcoin via bitwage
  2. Forward bitcoin payments to your USD wallets on Coinapult/Bitreserve.
  3. Send money to people via email or standard bitcoin payments
  4. Use bitcoin gateway solutions to spend your bitUSD in the real world (ex: Rent gateways, Gift Cards, Bitcoin ATMs, Bitcoin debit cards, online shopping, etc.)
This is by no means a cakewalk
Yet for a savvy individual with access to the internet (yet no bank account), there now exists a legitimate way to use bitcoin. Bitcoin is becoming less of a privilege for those with excess money to experiment and more utilitarian for the people who need it most.
Plus, with this modular model, there is so much room for competitive services to solve problems. And in this ecosystem, the problem solvers affect the world (not just those with bank accounts).
submitted by ForestOfGrins to Bitcoin [link] [comments]

Subreddit Stats: bitcoin top posts from 2013-08-07 to 2013-09-05 23:34 PDT

Period: 29.42 days
Submissions % Comments %
Total 997 29660
Rate (per day) 33.89 970.21
Unique Redditors 641 4550
Upvotes 79684 80% 156144 76%
Downvotes 19918 20% 47863 24%

Top Submitters' Top Submissions

  1. 1514 pts, 27 submissions: IWillNotBiteYourDog
    1. The Federal Government's Reaction To Bitcoin Is An Acknowledgement Of The Dollar's Vulnerability (341 pts, 87 comments)
    2. Crypto-currency for NSA leaker: Snowden fund accepts Bitcoin (200 pts, 28 comments)
    3. Congress starts investigating Bitcoin (146 pts, 116 comments)
    4. Do Bitcoins belong in your retirement portfolio? (88 pts, 68 comments)
    5. Rich-Get-Richer Effect Observed in Bitcoin Digital Currency Network (80 pts, 82 comments)
    6. What's the Deal with Bitcoins Anyway? [Video] (75 pts, 27 comments)
  2. 1217 pts, 17 submissions: waspoza
    1. As the U.S. gets ready to investigate Bitcoin, India says that it won’t regulate the currency (283 pts, 38 comments)
    2. Effortless deposits to Bitstamp from Brazil, Chile, Colombia, Peru, Mexico and Uruguay thanks to AstroPay (171 pts, 20 comments)
    3. Bitcoin is legal, let it evolve into its role, researchers urge (163 pts, 2 comments)
    4. Bitcoin Block Time Halved To Five Minutes Amid Exponential Network Growth (141 pts, 77 comments)
    5. Rentalutions enables US residents to pay rent in bitcoins (109 pts, 28 comments)
    6. Digital currency makes a buzz (54 pts, 8 comments)
  3. 1019 pts, 11 submissions: coolcityboy
    1. John McAfee on Bitcoin: "It will be everywhere and the world will have to readjust. World governments will have to readjust." (635 pts, 174 comments)
    2. Forbes: Congress Is Nervous About Bitcoin (84 pts, 13 comments)
    3. Lamassu: "It's begun! Our preliminary run of 15 Bitcoin Machines is underway. Proof is in the pictures." (57 pts, 41 comments)
    4. The Economist: How can you buy illegal drugs online? (46 pts, 19 comments)
    5. Bloomberg: Tradehill Bitcoin Accounts Moving to Credit Union (44 pts, 8 comments)
    6. "Bitcoin is the digital musket for our generation's revolution." --Bitcoin user (43 pts, 25 comments)
  4. 1014 pts, 4 submissions: coastermonger
    1. Just some low key multitasking... (424 pts, 40 comments)
    2. So did we figure out why Ebay (possibly) made this video about bitcoin? (362 pts, 186 comments)
    3. Petition for MtGox to post status on their solvency (207 pts, 83 comments)
    4. Video: Creating a Bounty for Merchants to Accept Bitcoin (21 pts, 6 comments)
  5. 849 pts, 16 submissions: gamerandy
    1. Do We Need a Separation of Bank and State? (319 pts, 125 comments)
    2. Russia Today talks with Trace Mayer and Andreas M. Antonopoulos, then they actually show bitcoin mining in their server room (154 pts, 20 comments)
    3. The Bitcoin Foundation is Electing A New Board Member - Here's The Audio Debate Between 11 of the Candidates. (56 pts, 24 comments)
    4. Interview with American Hacker Jeffrey Paul on Bitcoin, Cryptocurrency and Security (37 pts, 8 comments)
    5. Decoding Bitcoin... Politico Introduces their Audience to Cryptocurrency! (37 pts, 8 comments)
    6. Expensify's David Barrett and Fmr. Presidential Candidate Howard Dean talk about Bitcoin on CNBC 9.5.2013 (30 pts, 16 comments)

Top Commenters

  1. shakethatbass (1241 pts, 5 comments)
  2. physalisx (1007 pts, 232 comments)
  3. SeansOutpost (982 pts, 122 comments)
  4. xrandr (971 pts, 82 comments)
  5. PotatoBadger (930 pts, 201 comments)
  6. bbbbbubble (893 pts, 190 comments)
  7. bitcointip (877 pts, 225 comments)
  8. zeusa1mighty (875 pts, 263 comments)
  9. TheSelfGoverned (863 pts, 274 comments)
  10. throwaway-o (805 pts, 150 comments)

Top Submissions

  1. "We've won the State's War on Drugs because of Bitcoin" - Dread Pirate Roberts by JakeMcVitie (735 pts, 317 comments)
  2. John McAfee on Bitcoin: "It will be everywhere and the world will have to readjust. World governments will have to readjust." by coolcityboy (635 pts, 174 comments)
  3. Has this been reported yet? Within the past few days Ebay has added Virtual Currency to their Coins & Paper money category by 3itc0inEntrepreneur (611 pts, 188 comments)
  4. Due to a serious flaw in Android, all users of Android-based wallets must take immediate action. by theymos (531 pts, 241 comments)
  5. Coinbase: First million USD = 0% for cashing out! by sir_talkalot (517 pts, 186 comments)

Top Comments

  1. 1172 pts: shakethatbass's comment in hardleft121 visits Sean's Outpost, or Greg meets Jason. Mighty things are afoot.
  2. 644 pts: MillyBitcoin's comment in I am a time-traveler from the future, here to beg you to stop what you are doing.
  3. 283 pts: vqpas's comment in I am a time-traveler from the future, here to beg you to stop what you are doing.
  4. 273 pts: bitcointip's comment in hardleft121 visits Sean's Outpost, or Greg meets Jason. Mighty things are afoot.
  5. 254 pts: SeansOutpost's comment in hardleft121 visits Sean's Outpost, or Greg meets Jason. Mighty things are afoot.
Generated with BBoe's Subreddit Stats SRS Marker: 1378449285.0
submitted by phloating_man to phloatingman [link] [comments]

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